Kadant Inc. (NYSE:KAI) Holdings Decreased by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lowered its stake in Kadant Inc. (NYSE:KAI - Free Report) by 1.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 69,810 shares of the industrial products company's stock after selling 1,196 shares during the period. Pictet Asset Management Holding SA owned 0.59% of Kadant worth $24,084,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. FMR LLC raised its stake in Kadant by 1.1% during the third quarter. FMR LLC now owns 144,344 shares of the industrial products company's stock valued at $48,788,000 after buying an additional 1,629 shares in the last quarter. Dudley & Shanley Inc. increased its holdings in shares of Kadant by 196.7% in the 3rd quarter. Dudley & Shanley Inc. now owns 32,500 shares of the industrial products company's stock valued at $10,985,000 after acquiring an additional 21,545 shares during the last quarter. HighTower Advisors LLC raised its position in shares of Kadant by 120.1% during the 3rd quarter. HighTower Advisors LLC now owns 1,618 shares of the industrial products company's stock valued at $546,000 after acquiring an additional 883 shares in the last quarter. Synovus Financial Corp bought a new position in Kadant during the third quarter worth $585,000. Finally, JPMorgan Chase & Co. boosted its holdings in Kadant by 60.3% in the third quarter. JPMorgan Chase & Co. now owns 64,722 shares of the industrial products company's stock worth $21,876,000 after purchasing an additional 24,358 shares during the period. Institutional investors and hedge funds own 96.13% of the company's stock.

Kadant Stock Performance

Shares of NYSE:KAI traded down $13.82 during trading on Friday, hitting $304.54. 179,364 shares of the company traded hands, compared to its average volume of 102,698. The company has a quick ratio of 1.46, a current ratio of 2.29 and a debt-to-equity ratio of 0.37. The business's fifty day moving average is $362.21 and its 200-day moving average is $360.41. The stock has a market capitalization of $3.59 billion, a price-to-earnings ratio of 32.12 and a beta of 1.24. Kadant Inc. has a one year low of $249.51 and a one year high of $429.95.

Remove Ads

Kadant (NYSE:KAI - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The industrial products company reported $2.25 EPS for the quarter, topping analysts' consensus estimates of $2.08 by $0.17. Kadant had a return on equity of 14.66% and a net margin of 10.59%. As a group, equities analysts predict that Kadant Inc. will post 9.97 earnings per share for the current fiscal year.

Kadant Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 9th will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend is Wednesday, April 9th. This is a boost from Kadant's previous quarterly dividend of $0.32. Kadant's payout ratio is 14.35%.

Wall Street Analysts Forecast Growth

Separately, Barrington Research restated an "outperform" rating and issued a $410.00 price target on shares of Kadant in a research report on Friday, February 14th.

Kadant Company Profile

Kadant Inc supplies technologies and engineered systems worldwide. It operates in three segments: Flow Control, Industrial Processing, and Material Handling. The Flow Control segment develops, manufactures, and markets fluid-handling systems and equipment, such as rotary joints, syphons, turbulator bars, expansion joints, and engineered steam and condensate systems; and doctoring, cleaning, and filtration systems and related consumables consisting of doctor systems and holders, doctor blades, cleaning shower and fabric-conditioning systems, forming systems and wear surfaces, and water-filtration systems.